Member Info for londondan

Iain, you're back! I'm delighted. I thought you'd run off in shame after the humiliation of seeing yet another of your golden stock picks hit the skids.

Just a friendly reminder that one of us has been correct in each of our predictions here, regarding the fate of the NY Wheel and Star Sanctum. The other one of us is you.

Where do you see Challenger going from here? I'm very eager to hear your thoughts.

It's a total shambles for sure, but it's largely immaterial from Challenger's point of view now. Whatever happens to the EB-5 investors, or the car park, or the wheel parts, or Mammoet-Starneth, or the inevitable litigation to follow, Challenger's stake in the project is now worthless and the virtually worthless share price here reflects that.

I expect the person watching this most closely at this point is the lady behind the Star Sanctum debacle. It could save her a small fortune if Challenger goes to the wall in the near future.

"Mines a 900 pound total gamble with money I won from a casino"

You genuinely would have been better off walking straight back in to that casino and putting it all on red. Miles better odds than you now have here.

Yep, the whole ramp crew is here. It's quite the party! Lol.

What do I think? I think that yesterday this was a truly dreadful dog share on the brink of collapse and today it's a truly dreadful dog share on the brink of collapse.

Nothing has changed. It still doesn't have any money, viable revenue streams, record of success or means of raising significant funds. It's still easily the worst-performing company I've ever seen on the main market.

"my instinct tells me this will come through"

What is it about the company's unblemished record of complete and total, all-encompassing failure in every aspect to date which makes you think that good times are right around the corner? Genuine question.

"dan, almost worth getting your challenger shares turned into t a certificate so you can frame it"

That did make me laugh. I genuinely might do this. It can go on the wall in my office as a cautionary reminder not to waste any money on pos punt stocks.

Anyone seen iain around today?

I have to admit it feels strangely cathartic to finally be about to write off this pos once and for all. I managed to make a bit back during the 'American Bridge in advanced talks' spikes of 12-18 months ago, but I'm still holding a few shares which are obviously now as good as worthless. Never nice to lose money, no matter how much.

In truth, this was finished as soon as the CEO had to sell Starneth to keep the lights on. When you can no longer (at least theoretically) build your own wheels and instead have to rely on tiny minority stakes in other people's projects... well, we can see how that turns out.

Even as a punt, this dog is by far and away the worst company I've ever invested any money in. You have to laugh at the CEO saying 'we're looking for a new project now' in that RNS. The only project he should be undertaking is penning his own resignation letter - just delist this wreckage already and be done with it.

I'm sure there were people who got ramped in to this at some point or another - some of the ramp crew tactics which went on here were truly disgraceful; the worst of the market. Perhaps some of the characters who have spent the last couple of years throwing abuse at anyone who pointed out the giant holes in this company's strategy can show a little contrition today. I won't hold my breath.

Story updated again. Project now confirmed dead:

https://www.silive.com/news/2018/10/exclusive-ny-wheel-project-wont-move-forward-say-eb-5-investors.html

Tomorrow's open could be interesting. We should get an RNS.

The EB-5 investor group is now claiming they've been notified that the project is dead in the water. Yet again the local Staten Island press has the story long before Challenger's investors.

https://www.silive.com/news/2018/10/exclusive-ny-wheel-project-wont-move-forward-say-eb-5-investors.html

Not looking good here.

'Nark4' is clearly just the latest in a long line of sockpuppet accounts which that one chap has been setting up for about the last year. I doubt anyone cares sufficiently to bother reporting him anymore - it could all be curtains before long anyway. I haven't seen our old pal iain in a while either, which is very odd as he was usually so confident...

We should hopefully get some news one way or another today in any case, as the auction situation becomes clearer. If it signals the 'official' end of the NY Wheel project then I imagine we're probably done here as well.

Another cracking day on the markets for Challenger. Just a matter of time here now, surely.

My guess is that with Mediclinic's share price in the toilet this morning (down about 20% at the time of writing), people are assuming that an offer to take over Spire is now less likely than it was yesterday.

I really wouldn't want to guess what happens next here. My plan is to just continue to hold tight until further notice.

"And you have been authorised to take part in the auction...."

But they haven't been.

The deal is that if they can prove they've got the funds, they can participate in the auction. The fact that they've been reduced to begging the Mayor for a bailout does little to inspire confidence that the fundraising is going well. That auction is due to take place next Tuesday.

Just sayin'.

There's not much more to say now here really. My view is that we're pretty much just waiting for the end.

The NY Wheel situation should become clearer in the next week or two, which should in turn dictate the future (or lack thereof) of the company.

Indeed - as if we needed any further evidence that AIM is a rotten cesspit.

At the risk of repeating myself - the BOD HAS largely been replaced of late. The CEO is about a year in, having joined the business just before the last bid came in. The new CFO started last week and I'm fairly sure that the new COO starts next week. What more do you want in terms of personnel changes?

"So what's your take with this deadline looming,auction?"

To me it looks like a game of chicken at this point, with the NY Wheel investors on one side and NY Mayor Bill de Blasio on the other. If NY Wheel can convince him to bail out the project in some form or another then there's a chance it might get built. If they can't convince him then the end of October date seems like it might result in the project being declared dead in the water.

However, I wonder if it's totally irrelevant either way. Even if the build does go ahead, Challenger's stake will surely be diluted to the point of almost total irrelevance. Can the business even keep the lights on long enough to see the wheel open? We'll find out in the next few weeks, but it's looking like a matter of time here now.

The best approach is to filter Jetski, in my view. There's nothing close to coherent thought coming out of that account.

Yet another new all-time low hit today, as the clock continues to tick ever-closer to the NY Wheel 'auction' date later this month.

One buy so far this month. All going great guns here.